All right, spoiler alert. Your ego is probably not going to like this episode, but

we're going to get real because it's good for all of us. So we're going to break down what

America's number one wealth killer is actually costing you. And to keep things interesting,

at the end, I'll share my one exception

to avoiding this wealth killer. So stay tuned. Make sure to like, subscribe, and share this

episode with a friend. So there's a lot of conflicting financial opinions out there, but I really

do believe the number one wealth killer is something that almost all of us can agree on when

it comes to financial

experts, and that is car loans. So there are plenty of other countries around the world where they

use cars for utility. Like it gets them to point A to point B, right? But for us, it's become part of our

identity to the point that it's like we will go into debt and financially we will not make smart

decisions because of our car. So listen, I get it. Our cars, they say a lot about us. And I remember,

you know, being like, I'll never drive a minivan because I just felt like they're ugly. And

that just sounds like, I'm not cool anymore. And like, no, I'm not going to be that. I'm not going to be that mom. And what happened? Except my ego and pride is Josh. And I've been driving a minivan for five years. So again, I don't love it.

Like, it's not like this is like my dream car ever. Like, it's very functional. I do love it.

I don't like how it looks, but I love it. So I get it. I get that like it becomes your identity a little bit. But we want to get over that because again, I would take a paid off car all day over a car with a lot of debt that looks great.

So let's talk about why this is the number one wealth killer.

So number one is that immediate money is lost.

When you buy a brand new car, okay, the moment you drive it off the parking lot of that

dealership, it loses 9% of its value. It is the most expensive purchase that we make that goes down

in value. And research shows that new cars lose the most value within the first year of ownership,

which means your car is worth about 20% less than what you paid for it 12 months

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